Online financial services disclosures

ASIC has released a Consultation Paper (pdf) proposing
to facilitate disclosure of financial services information through
email and the internet as part of the Retail Investor Taskforce work to
improve access to such information.

ASIC is proposing relief to enable providers to give their financial services disclosures by:

  • notifying clients via email that the relevant
    information is available from a website and with instructions on where
    the information can be found; or
  • sending clients an email with a hyperlink to the relevant information.

ASIC is also proposing relief to enable trustees of
superannuation entities to use a website as the default method of
delivering annual superannuation information (other than personal
disclosures, such as periodic statements of a member’s holding). The
proposed relief will mean that annual superannuation information is
treated in much the same way as company annual reports.

Comments are invited by 28 May 2008 

Print Friendly, PDF & Email

Your Compliance Support Plan

We understand you need a cost-effective way to keep up to date with regulatory changes. Talk to us about our fixed price plans.